John Galbraith The Great Crash Summary

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The "Great Crash of 1929, written by John Kenneth Galbraith, first written in 1955, about quarter a century after the economical crash of America, is a must reading for everyone. From its first publish, it become a best bookseller. The reasons for its success are the following. It describes the great crash of 1929 from economical/financial viewpoint. His theory is that economics means you can make money from nothing. Everyone were spend more than they could afford and banks gives "easy" money to people in order to lead them to spend more, and thus the banks worn more money. But this model was not able to last forever. A big-bang, another name of great crisis, was the result. Since financial cycles are the rule, I recommend everyone to read

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